S.F. No. 1679 establishes a new payment in lieu of tax (PILT) payment for large forest easement value reduction. Large forest easement value reduction is defined as the market value reduction due to a single “forest for the future” easement on land exceeding 60,000 acres that was purchased under Minnesota’s “forest for the future” program. Counties shall be entitled to a PILT payment in the amount of three-fourths of one percent of the large forest easement value reduction in the county. Each county must certify to the Department of Natural Resources the assessed value of large forest easement value reduction in the county, and the county treasurer must allocate the payments on the same basis as if the payments were taxes on the land.